Economy
GDP (2007): $283,8 billion
Real GDP growth rate (2007): 3,3 %.
Per capita income (2007): $39,000.
Natural resources: Iron ore, crude oil, natural gas, timber, tungsten, magnesite, lignite, cement.
Agriculture (1,7 % of 2007 GDP): Products - livestock, forest products, grains, sugarbeets, potatoes.
Industry (30,7 % of 2007 GDP): Types - iron and steel, chemicals, capital equipment, consumer goods.
Services: 67,6 % of 2007 GDP.
France’s economy combines extensive private enterprise (nearly 2.5 million companies registered) with substantial (though declining) government intervention (see dirigisme). The government retains considerable influence over key segments of infrastructure sectors, with majority ownership of railway, electricity, aircraft, and telecommunications firms. It has been gradually relaxing its control over these sectors since the early 1990s. The government is slowly selling off holdings in France Télécom, Air France, as well as the insurance, banking, and defence industries.
| Annual data | 2007(a) | Historical averages (%) | 2003-07 |
| Population (m) | 38.1 | Population growth | -0.1 |
| GDP (US$ bn; market exchange rate) | 421.9 | Real GDP growth | 5.1 |
| GDP (US$ bn; purchasing power parity) | 621.0 | Real domestic demand growth | 5.6 |
GDP (2006): $33,87 billion (purchasing power parity); $34,53 billion (official exchange rate).
Currency: euro (€). Exchange rate (8. August 2007): €1 = $1,3736.
Annual growth rate (2006): 6,2%.
Per capita income (2006): $71 400.
Inflation rate (2006): 2,6%.
Natural resources: Iron ore, timber.
Agriculture (2005: 0,4% of GDP): Dairy, wine, forestry, animal feed crops. Arable land - 24%; forested land - 21%.
Services (2005: 83,3% of GDP): Banking and financial services predominate.
| 2004 | 2005 | |
| Economic growth | 2,6 % | 1,2 % |
| GDP/inhabitant | 118,4 | 117,5 |
| Inflation rate | 1,9 % | 2,5 % |
| Unemployment rate | 8,4 % | 8,4 % |
| Public debt | 94,7 % in relation |
GDP structure: 68,4% services, 30,4% industry, 1,2% agriculture.
Employment structure: 63,8% of German employees work in services, 33,4% work in industry and 2,8% work in agriculture.
Denmark has a small, open, and flexible economy. The service sector makes up the vast amount of the employment and economy. Its industrialized market economy depends on imported raw materials and foreign trade. Within the European Union, Denmark advocates a liberal trade policy.
In 2003, prior to joining the European Union, Lithuania had the highest economic growth rate amongst all candidate and member countries, reaching 8.8% in the third quarter. In 2004 — 7.3%; 2005 — 7.6%; 2006 — 7.4%; 2007 Q3 — 10.8% growth in GDP reflects the impressive economic development. Most of the trade Lithuania conducts is within the European Union.
For centuries under Hanseatic and German influence and then during its inter-war independence, Latvia used its geographic location as an important East-West commercial and trading centre. Industry served local markets, while timber, paper, and agricultural products supplied Latvia’s main exports. The years of Soviet occupation tended to integrate Latvia’s economy into the U.S.S.R. in order to serve that empire’s large internal industrial needs. Since re-establishing its independence, Latvia has proceeded with market-oriented reforms.
Work – Estonia may have had rocket-like growth in recent years, but only from a very low base as a former Soviet republic. An average local monthly salary (4th quarter 2007) is around 800 EUR.
